Hedge Funds Sue Anglo Irish Bank Over $200M Stake

Law360, New York (February 14, 2011, 6:26 PM EST) -- Two hedge funds sued Anglo Irish Bank Corp. Ltd. on Monday in an attempt to claim $200 million stemming from note purchase agreements with the bank, which has been through a government bailout and is liquidating assets.

Fir Tree Capital Opportunity Master Fund LP and Fir Tree Value Master Fund LP filed their complaint in the U.S. District Court for the Southern District of New York, saying that a government-ordered auction of the bank's assets and deposits will "leave behind an undercapitalized entity with inadequate resources"...
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